BankUnited Financial Corporation Announces Public Offering of Stock

CORAL GABLES, Fla.--(Business Wire)--
BankUnited Financial Corporation (NASDAQ: BKUNA) today announced
the launch of a public offering of its Class A common stock, with
gross proceeds of $400 million. The offering is expected to be
pursuant to customary underwriting terms for a firm commitment
offering of this type.

UBS Investment Bank (UBS) and Keefe, Bruyette & Woods (KBW) are
acting as joint book-running managers for the offering. Sandler
O'Neill and Stifel Nicolaus are acting as co-managers for the
offering.

BankUnited expects to use the net proceeds from this offering for
general corporate purposes, including contributing capital to its bank
subsidiary.

This news release does not constitute an offer to sell or a
solicitation of an offer to buy shares of common stock, nor shall
there be any sale of these securities in any jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The offering may be made only by means of a prospectus
and a related prospectus supplement, copies of which may be obtained
when available from UBS Investment Bank, Attention: Prospectus
Department, 299 Park Avenue, New York, NY 101711 or by calling
888-827-7275 or from KBW, 787 Seventh Avenue, New York, NY 10019,
Attn: Prospectus Department, or by calling 1-800-221-3246. An
electronic copy of the prospectus and related prospectus supplement is
available from the SEC's website at www.sec.gov.

Forward-Looking Statements

This news release may contain certain forward-looking statements,
which are based on management's expectations regarding factors that
may impact the company's earnings and performance in future periods.
Words and phrases such as: "will," "will likely result," "expect,"
"will continue," "anticipate," "estimate," "project," "believe,"
"intend," "should," "would," "may," "can," "could," "plan," "target"
and similar expressions are intended to identify "forward-looking
statements." Actual results or performance could differ from those
implied or contemplated by such statements. Factors that could cause
future results and performance to vary materially from current
management expectations include, but are not limited to, general
business and economic conditions, either nationally or regionally;
fiscal or monetary policies; significant weather events such as
hurricanes; changes or fluctuations in the interest rate environment;
a continuation of the deterioration in credit quality and/or a reduced
demand for credit, including the resultant effect on our allowance for
loan losses; reduced deposit flows and loan demand; real estate
values; competition from other financial service companies in our
markets; potential or actual litigation; legislative or regulatory
changes, including, among others, changes in accounting standards,
guidelines and policies; the issuance or redemption of additional
company debt or equity; the concentration of operations in Florida, if
Florida business or economic conditions continue to decline; reliance
on other companies for products and services; the impact of war and
the threat and impact of terrorism; volatility in the market price of
the company's common stock; the company's inability to raise capital
due to challenging market conditions; and other economic, competitive,
servicing capacity, governmental, regulatory and technological factors
affecting the company's operations, price, products and delivery of
services. Please refer to the documents that BankUnited files
periodically with the SEC, such as the Form 10-K for the 2007 fiscal
year, and reports on Form 10-Q for the Dec. 31, 2007, and March 31,
2008 periods, which contain additional important factors, including
"Risk Factors," that could cause actual results to differ from the
company's current expectations and from the forward-looking statements
contained in this press release.

BankUnited Financial Corporation
Investor Relations:
Susan Greenfield, 305-569-3449
or
Corporate Communications:
Melissa Gracey, 305-817-8117

Copyright Business Wire 2008